This invention relates generally to payments with mobile devices. More specifically the invention relates to verifying that both users and mobile devices, which attempt to use account information for transactions, are authorized to do so.
In recent years the number of different types of electronic payment at the point of sale (or other transactions) has increased dramatically. As the number of ways a consumer could initiate a payment for purchases has increased, so has the sophistication of criminal elements which aim to steal this new, often wirelessly transmitted, payment information as it makes its way from consumer to merchant.
While some enhanced security methods have been introduced to combat such fraud, these methods typically do not determine whether a source of payment information is authorized to provide that payment information. Instead, only the validity of the information itself is checked. Embodiments of the present invention provide solutions to these shortcomings and other problems with current electronic transactions.